Agmt18 MP Mosaic Garden Associates, L.P.

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to perform under this Agreement. Contractor will, upon demand by City, pay City the full amount owing to City as a result of any such audit exception. City will monitor Contractor's Project and expenditures made pursuant to this Agreement annually to verify Contractor's compliance with this Agreement and local contract requirements, provided that City may monitor more frequently as City deems necessary. Contractor shall cooperate with City and provide all documents and information requested by City in a timely and accurate fashion. Contractor shall pay City to cover the administrative cost of compliance monitoring that is designed to confirm adherence to the Agreement requirements and provide technical assistance to the Contractor, its representatives or management personnel (the "Affordable Housing Monitoring Payment"). City shall only charge Contractor for costs associated with the Affordable Units. The Affordable Housing Monitoring Payment is $162 per unit for each of the following tasks: initial lease up, annual review and re -occupancy. The City shall not charge Contractor for annual review in the same year as the City charges for initial lease up. Additional technical assistance and compliance monitoring required by City that exceeds 1 hour per month may be assessed at the rate of $162 per hour. Contractor shall pay City the costs of the Affordable Housing Monitoring Payment, including additional technical assistance and compliance monitoring, within fifteen (15) days of City's request for payment. The City may adjust the Affordable Housing Monitoring Payment from time to time. 10. RECORD RETENTION. Contractor shall retain all financial, supporting documents, statistical records, and all other records pertinent to the Agreement for a period of five (5) years from the end of the Loan Term. Notwithstanding the above, if there ATTY/AGR/2018.027/MIDPEN MOSAIC GARDENS (ATHERTON COURT) REV: 02-22-18 JS Page 9 of 41